Group 2

Values-based banks expand their reach: GABV welcomes three new members

GABV

5 February 2024

The Global Alliance for Banking on Values (GABV) begins the year by welcoming three new members to the network. The newly joined members are SozialBank, in Germany, Credit Human, in the USA and Climate First Bank (associate member), in the USA.

The GABV’s ever-growing network has now reached over 70 members from over 40 countries that share a common goal to transform finance for good.

Martin Rohner, Executive Director of the GABV: “We are pleased to welcome our three new members, each bringing their own character and qualities to the movement. SozialBank is Germany’s first and oldest social entreprise with a rich history serving social institutions. The GABV is proud to become part of its history. We are impressed by the coherence and consequence of Credit Human’s highly participatory, values-based leadership model, which is an inspiration for our movement. Climate First Bank is a challenger bank set up to tackle climate change and the shortage of affordable housing and support the growth of sustainable businesses. It has been very well received by the market, as its rapid growth over the past two years demonstrates.”

SozialBank is the only credit institution in Germany that exclusively addresses institutional clients from the social services and health care sector. Since 1923, its main shareholders have been the six non-statutory welfare associations in Germany. With a balance sheet total of around 9.7 billion euros (as of December 31, 2023), it offers organisations in the care for the elderly, healthcare, assistance for the disabled, child and youth welfare, education, and other social services all the services of a universal bank – tailored to the social economy.

Credit Human is a $2.9 billion federal credit union serving over 235,000 members across the United States. The cooperative balances the needs of responsible savers and borrowers to build stronger communities. Credit Human’s Financial Health Center teams work directly with its members in their communities to help them build and maintain financial slack. They also partner with local organizations across New Orleans and San Antonio to help strengthen their communities. The credit union is committed to providing its members with competitive rates and personalised service, with a focus on helping them achieve their financial goals.

Climate First Bank‘s (associate member) mission is to reimagine finance as a force for good and become the most impactful bank contributing to the drawdown of atmospheric CO2. Climate First Bank is a full-service community bank offering personal and commercial banking services with a focus on environmental sustainability. The bank provides its residents and businesses with convenient, specialized green loan options for everything ranging from rooftop solar to renewable energy to building retrofits, EV charging, or even purchasing certified carbon offsets. Carbon neutral since the first day it opened, every decision the bank makes is through the lens of achieving Drawdown.

About the GABV

The Global Alliance for Banking on Values (GABV) is a network of independent banks and banking cooperatives with a shared mission to use finance to deliver sustainable economic, social, and environmental development. Founded in 2009, the GABV comprises 70+ financial institutions operating in over 40 countries across Asia-Pacific, Africa, Latin America, North America and Europe. It serves more than 60 million customers collectively, holds over USD 200 billion of combined assets under management and employs 80,000 co-workers.

Meet the banks of the network and the countries where they operate: www.gabv.org/members

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